Top Story

e4m_logo.png

Home >> Media - Others >> Article

Network18 Group in strategic retail tie-up with Mobile NXT

15-September-2007
Font Size   16
Network18 Group in strategic retail tie-up with Mobile NXT

Network18 Group, one of India’s fastest growing media companies, has entered into a strategic alliance with Mobile NXT, which is India’s first mobile retail chain. As per the alliance, the media company would provide Mobile NXT with necessary funds and strategic advice.

Network18 has taken this decision considering its interest in the field of travel and entertainment. Avendus Advisors was the sole investment banker and advisor to Mobile NXT for this pact.

The funds will be used for the company’s next phase of expansion. Mobile NXT plans to roll out 100 stores in multiple formats across different cities in India with a strong focus on Tier II and Tier III cities over the next one year. Over the next three years, it plans to have 500 stores on the ground towards achieving its vision of being a pan-India chain.

Commenting on the partnership, Romy Juneja, COO, Mobile NXT, said, “We are pleased to join hands with the Network 18 Group. This is the first of its kind deal between a media powerhouse and a mobile retail chain. This association will benefit all our clientele and also provide value-based consumer experience to this expanding market.”

Mobile NXT retail chain was launched in April 2006 and had set up their first store in Gurgoan. Today, the company has 22 stores spread across India, with its head office in Bangalore.

Tags

Vijay Mansukhani, speaks to exchange4media about the resurgence of Onida, the scope of growth of consumer electronics market in India and the reasons why Indian consumer electronics brands don’t compete on a global scale

Projjol Banerjea opens up about hiring Anne Macdonald and GroupM's Rob Norman, and the brand's new identity

Meera Iyer tells exchange4media that in FY 2016/17, bigbasket clocked a revenue of Rs 1,400 crore. The online supermarket currently stands at 70,000 orders a day, with operations in 25 cities.

CMO, Kashyap Vadapalli on the start-up’s marketing play, why it has decided to stay away from IPL and response to its furniture rental apps

Ushering the launch with a campaign titled ‘The New Way to Get Rich’ showcasing how technology gets millennials closer to their financial dreams

Ogilvy and Love Matters conceptualised a campaign that aimed to change the conversation and imagery that is associated with the LGBTQ community and lesbians in particular